Light vehicle exhaust system reduces noise created by the vehicles, which in turn increases the fuel economy, drivability, and overall power of the light vehicles. Earlier, exhaust system was previously a simple duct system designed to avoid toxic exhaust gases from entering the light vehicles. Change in the government regulation and consumer demands are some of the major factors driving the demand for light vehicle exhaust & emissions systems. Federal, state, and local government in the countries such as the U.S. have introduced several noise pollution control standards. Federal Noise Control Act was one of the major nationwide law introduced by the U.S to regulate the noise levels of light vehicles. In the U.S. sound measurement is taken at 50 feet for speeds less than 35 mph, whereas in Australia measurement is taken at 24.61 feet for speeds of 31.07 mph. Repair of leaking connections, replacement of failed components, and visual inspection are some of the solutions to reduce the noise levels of light vehicles.
Light vehicle exhaust & emissions systems market can be segmented based on type and components of exhaust systems. Single exit pipe, dual rear exit, opposite dual exhaust, and d ual side exhaust are some of the types of exhaust systems in light vehicles. Single exit pipe is a standard type exhaust system that has one exhaust pipe to release the exhaust gases away from the engine. Dual rear exit vary in terms of quantity of exit pipes installed in the light vehicles. Furthermore, after treatment devices including particulate filters and catalytic converters, mufflers, decoupling elements, and hangers are some of the components of exhaust systems in light vehicles.
Light vehicle exhaust & emissions systems are expected to be majorly implemented in the regions such as Europe, North America and Asia Pacific. U.S. is expected to remain one of the emerging Light vehicle exhaust & emissions systems markets. Furthermore, China is projected to experience significant growth rates in upcoming years. Economic growth in countries such as Germany, South Korea and others is one of the major factors driving the demand for light vehicle exhaust & emissions systems market. In addition, increased spending capacity and rising automotive industry growth in countries such as Japan and China are some of the major factors driving the for light vehicle exhaust & emissions systems market.
Reductions in operations & management costs, improved security, improved implementation of software and hardware components in the regions such as Asia Pacific and Europe are some major benefits that are projected to drive for light vehicle exhaust & emissions systems market. Experienced with growing economic and environmental pressures on city transportation, cities are formulating innovative strategies to provide a balanced view of parking that offers better management of supply & demand of visitors. Reduced operating expenses, improvement in the capital productivity, willingness to take risks, ability to manage partnerships and facility to minimize the cost and complexity of maintenance are few requirements that will have to be met to capture the light vehicle exhaust & emissions systems business.
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Some of the major players in light vehicle exhaust & emissions systems market are Flowmaster, Inc., Magnaflow, MBRP Inc., Borla, Gibson Performance, Inc., Gale Banks Engineering. INC., advanced FLOW engineering, Inc., JBA Performance Exhaust, and Gibson Performance, Inc. among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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